Tag Archives: Insurance

Congratulations Pisobilities: Best Public Service TV Program

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On April 23, 2013, I got the call from Aileen, the producer of the Pisobilities show that the program was a finalist in the KBP Golden Dove Awards for Best Public Service Program. We were ecstatic to even be nominated, especially after learning that our program was nominated alongside the programs of media stalwart ABS-CBN.


As we were seated at Star Theater last April 25, 2013 in the evening, waiting for the announcement, we were sure that…we were happy to have been nominated. Yet lo and behold…the voice of Winnie Cordero… and the KBP Golden Dove Award for Best Public Service TV Program goes to… Pisobilities, LightTV33.

Pisobilities - Best Public Service TV Program at the 21st KBP Golden Dove Awards (2013)

It was truly a blessing for us that the industry recognized the value of Pisobilities. More than this accolade, it is our deepest desire that we continue to reach more and more Filipinos through our various TV programs, books and seminars.

I would like to thank in particular our partners in this program – ZOE Broadcasting Network’s LightTV33, Bro. Eddie Villanueva, Soc Garcia, Arlene Retania, LightTV33’s production head, Aileen Valdez Pisobilities Producer, Jingle Perez scriptwriter, Maria Fortich Quimpo and Carlo Damalerio Editors, Next Leyderos Marketing and Sales.

And of course the members of the Colayco Foundation Team who work to make this program possible, Mr. Francisco J. Colayco for untiringly sharing his time, talent and vision,  Mr. Armand Q. Bengco for his crazy wonderful ideas, Art Ladaga for meticulously designing and refining each episode and the rest of the team Amy, Gina, Elvie, Renzie, Fiona, James, Lala, Jun, Jao and Jep.

All our hard work would have been for nothing if it were not for our viewers! So thank you as well for all your support and continued patronage and feedback!

Pisobilities featuring Francisco J. Colayco airs on LightTV33 every Tuesdays 8:30PM and GMANewsTV every Saturdays 6:00AM.

 

How do I fix my family’s finances?

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Inquirer:

Pwede po himingi ng advice.Ganito po ang sitwasyon ko ngayon.

FAMILY:

Si tatay po 52 years old na government employee. Si nanay po ay 57 years old na housewife. Tatlo po kaming magkakapatid. Si kuya po ang panganay namin nagfocus sa religion kaya hindi rin po secured ang future(pero naniniwala kami na secured siya after life :) ). Ako po ang pangalawa nagwowork as an IT professional. Si bunso po, 3rd year high school student.

HEALTH CONDITIONS:

Si tatay po inatake na dati ng mild stroke pero health counscious naman po sila ng nanay ko. Si nanay meron pong myoma at nagpaplano na pong magpa-opera ASAP. Healthy naman po kaming 3 magkakapatid. Nagkaroon lang po ako dati ng gastritis.

REMARKS:

May konti po kaming savings at meron po kaming lot property sa Baguio under pagibig loan ni tatay na may 100 sqm at may balance pang 100K para mapasaamin na po. Currently, nangungupahan kami ng bahay na 3K per month pero nagpaplano na rin akong mag housing loan sa pagibig dahil eligible na ako for housing loan.

Masasabi ko po na ako ang bread winner sa family. Si tatay po less than minimum po ang kinikita dahil sa dalawang loans niya na binabayaran niya hanggang ngayon(GSIS, UP provident fund).

Ano po ba magandang gawin ko? Sa calculation ko po may 20K akong naitatabi per month. Gusto ko sana ma-insured ung nanay at tatay ko dahil matatanda na sila. Gusto ko rin sana magkaroon ng passive income ngayon through investments. Ano ba magandang gawin ko para sa aming lahat. Napakarisky naman kung ipapa-insured ko silang lahat tapos biglang mawalan ako ng trabaho. Kasi nagwowork ako sa BPO company (ACS Xerox).

Maraming salamat. Sana matulungan mo ako at sana atin atin lang ung mga information na ibinigay ko.

Thanks and God bless po!

Guita of Colayco Foundation

  1. Your parents don’t need Insurance as you and your younger sibling (in 1-2 years) can already support yourself. Insurance is for FINANCIAL protection – it is meant to provide replacement income if in case something happens to you and your ability to earn income and support dependents. At this point purchasing life insurance (like VUL) for them is not necessary. It would be more prudent to purchase long-term medical and health insurance or plan tailored to their health profiles.
  2. As for purchasing insurance for yourself or your siblings – unless you have dependents (children) it is not an immediate need.
  3. Parent’s retirement – there is still some time for your parents to start preparing for their retirement. The lump sum/pension that your father will get from GSIS and Pag-ibig will not be very big. It would be good if he could start a retirement fund ASAP. Use the following tool to help you identify how much your parents would need upon your father’s retirement to live their golden age comfortably – Compute for your Retirement Target.
  4. Sinong nakikinabang sa lupa na nasa Baguio na may Php100K na balance?
  5. Huwag ka munang mag-madali na umutang sa Pag-Ibig para bumili ng bahay. Alamin mo muna kung talagang kaya mong panindigan ang costs of owning property. 3K/mo. rent is not so bad. It might be better to save money and grow it first via investing so you don’t have to loan a big amount.
  6. Before investing make sure you have the following covered:
    1. Emergency Funds = 2 mos. Income
    2. Cash Reserves = 6 mos income
    3. Medical/Health Insurance
  7. As for investing, study mutual funds. Visit our Mutual Fund FAQs for more info.

 

Questions to Ask Before Buying Insurance

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Inquirer:
.ano pong masasabi nyo’,may nagooffer po ng 1 million Life Insurance,,sa mga credit card holder na katulad ko,,847ph a month.1o yrs to pay,,covered 1 million,in case na anuman mangyari sakin within 1o yrs.But after 10 yrs.,at buhay pa ako,walang money back.Hindi ko na po binanggit ang company ng Insurance at ang sister company,,ay ang number 1 bank ngayon.Thank U po and God bless.

Guita of Colayco Foundation:
Do you have dependents-children? How many years till they are 21 years old/finish college? Do you have insurance already? Is it enough to cover your needs should something happen to your ability to earn income?

Preparing for Life Abroad

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Inquirer:
just wanna seek 4 ur advice.my husband is g0ing abr0ad,sh0uld i c0nsider getting him an insurance/life plan like SUNLIFE? he’s g0in to w0rk at d middle east,in saudi arabia..tnx

Guita of Colayco Foundation:
Yes you should get him life insurance so that in case something happens to him you and your child have something to fall back on. More essential however since he is working abroad is that he have adequate health/medical/hospital insurance (or he should check local laws if he is covered by their social benefits). If his employer and the government does not provide this, he should get his own plan upon arriving.

How to know: Trustworthy Insurance Company

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Inquirer:
sir, paano po ba mlalaman kung mapagka2twlaan ang isang insurance company? thank you poh!

Guita of Colayco Foundation:
Check that 1) it has a long history, 2) it is reputable and 3) it has good performance and MOST IMPORTANTLY that its products suits your needs. Should it happen that it becomes unstable, a bigger insurance company often buys it (thus its client’s plans as well).

 

 

 

 

 

I’ve recently become more involved with Colayco Foundation for Education, the first, most experienced and most effective in teaching personal finance to Filipinos, and I’ve answered so many questions about investing, managing money, business, etc. Names have been redacted. Most of these are originally found on the Francisco Colayco Facebook Page, Colayco Foundation and Francisco Colayco Website

Who is responsible now? Insurance Company

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Inquirer:
i need your advised kc po sir yung mother ko sumali sa insurance na hawak daw po ng prudential life, 2003 ng mag simula sila maghulog sa loob po 5yrs, tpos kelangan daw nla mghntay ng another 5yrs pra mkuha ung pera nla.. ngyon po mag bale mag 10yrs na balak na po sna nla kunin kaso hndi na po nla mtagpuan ung branch ng insurance.. 2mawag po kme sa prudential life ang sabi po hndi daw po sila connected sa insurance na snalihan ng mother ko since 2009, sir wla po cla pananagutan dun? kc po 2008 tpos na po kme maghulog at nghhintay nlang kame..sino po ba ang dapat managot sir sna ma2lungan nyo po kame thank you po!!!

Guita of Colayco Foundation:
May mga papeles ba kayong hawak? Naalala niyo ba kung ano ung exact name nung insurance product na binili ninyo and ung policy number? Or at least the exact name of the Insurance Company.
If the insurance company you bought the insurance from was bought by another company, then the acquiring company takes over all the responsibilities of the company that provided you with the insurance.

 

 

 

I’ve recently become more involved with Colayco Foundation for Education, the first, most experienced and most effective in teaching personal finance to Filipinos, and I’ve answered so many questions about investing, managing money, business, etc. Names have been redacted. Most of these are originally found on the Francisco Colayco Facebook Page, Colayco Foundation and Francisco Colayco Website